If Rising Star did the programming stuff, couldn't XSeed still release it?
It's fairly common now for localization houses to have the original developer do the localization programming. While I can't claim I know how Rising Star works, I doubt they staff programmers. Based on what we've heard from XSEED, the bandwidth issue is from Vanillaware's end. Now, should Rising Star actually staff programmers, maybe it is still on for Europe. I think, though, that the writer is working from a set of assumptions that might not be accurate. If so, it's pretty clear that it could likely be licensed for the US. I doubt that's the case, though.
Edit: Also, to espouse why this might be the case, programmers are expensive. Really expensive. Say you have a one-size-fits-all senior programmer on staff for all localization. In Southern California, that's going to run you, what, $120-150K/yr? Say you're a small publisher like XSEED or Aksys and you localize somewhere between 3-6 titles a year. That's a lot of money to keep a programmer on staff for when they're likely not going to have enough workload. Sure, there's enough workload for the marketing guys, the editors/translators, etc., but my gut says that localization programming, when you have the original source code to work with, is not the most time-consuming gig. It could be, but I'm guessing not. It may simply be much more cost effective to include that as a part of your licensing fees.
This is all speculation, though. That could be right or it could be horribly wrong.